Nifty: Factors Impacting Street’s Opening As US Markets Remain Closed

By Malvika Gurung

Investing.com — The listed on the Singapore-based Exchange SGX, an early indicator for , traded 0.21% or 39 points lower at 8:37 am on Friday, indicating a lower-to-muted opening on Dalal Street amid global cues.

The benchmark index closed at an all-time high in the previous session, while Nifty50 recorded a fresh 52-week high tracking positive global cues after minutes of the Fed’s October meeting showed chances of rate hikes slowing soon. A majority of Fed policymakers agreed to the prospects of slowing the pace of rate hikes soon. 

Stocks across Asian markets traded lower on Friday, following multiple economic figures in the region. Tokyo’s core CPI inflation jumped to a 40-year high in November, more than expected, rising at an annual pace of 3.6%, its fastest since 1980. 

At 8:25 am, South Korea’s Kospi dropped 0.26%, Japan’s Nikkei tripped 0.34%, Hong Kong’s tanked 1.2%, China’s gained 0.42% and Australia’s ASX 200 rose 0.24%.

Oil prices eased on Friday, taking support from weakness in the amid the Federal Reserve’s less hawkish indications on the size of future interest rate hikes. 

Crude markets fell sharply in recent sessions due to rising Covid-19 cases in China raising concerns of curtailing demand and a much higher-than-expected price cap on Russian oil sales put by the G7 nations.

traded flat at $85.34/barrel and WTI Futures gained 0.3% to $78.17/barrel. Futures declined 0.51%.


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